Press release from Companies

Published: 2020-05-04 08:18:06

Phase Holographic Imaging PHI AB: PHI secure working capital until 2022

To bridge and adapt to the consequences of the COVID-19 pandemic, Phase Holographic Imaging (PHI) has received a binding credit facility of 15 MSEK. Together with the furloughing covenant that was recently concluded with the labor union Sveriges Ingenjörer, the company anticipates that the credit facility will secure the company's working capital until 2022. The facility provides PHI with a reserve in case additional aid provided by the government proves to be too compromised and insufficient, once it reaches companies in its final form.

Closed borders, travel restrictions and customers in lockdown inevitably lead to that planned product demon­strations and associated sales are pushed into the future. It is becoming increasingly clear that this future will look very different from the world we have become accustomed to since the end of the Second World War. This will be especially true if it proves difficult to achieve a high degree of population immunity through vacci­nation or post-infection immunity.

Credit facility

The loan agreement between PHI and Danish Formue Nord Markedsneutral A/S allows PHI to call for loans totaling 15 MSEK at market terms. The initial term of the agreement is 12 months, followed by a periodic possibility of renewal. Activated loans can be repaid in cash or, if possible, through set-off of shares and/or options. Sedermera Fond­kommission has acted as financial advisor, concerning the loan agreement.

For additional information, please contact:
Peter Egelberg

E-mail: ir@phiab.se
Web: www.phiab.com – Live cell imaging & analysis

Phase Holographic Imaging (PHI) leads the ground-breaking development of time-lapse cytometry instrumentation and software. With the first instrument introduced in 2011, the company today offers a range of products for long-term quantitative analysis of living cell dynamics that circumvent the drawbacks of traditional methods requiring toxic stains. Headquartered in Lund, Sweden, PHI trades through a network of international distributors. Committed to promoting the science and practice of time-lapse cytometry, PHI is actively expanding its customer base and scientific collaborations in cancer research, inflammatory and autoimmune diseases, stem cell biology, gene therapy, regenerative medicine and toxicological studies.

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